james16 Chart Thread | Page 6972 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Where can I learn more about Price Action like those in James16 charts? 9 replies

Attachments: james16 Chart Thread
Exit Attachments

james16 Chart Thread

  • #139,421
  • Jul 29, 2016 12:27pm Jul 29, 2016 12:27pm
Quoting dave0
Morning Mike / All, I'm starting to have a look at BEOB's - any comments on what I have drawn out here? Thanks. {image}
The bar you've labeled BEOB isn't an outside bar dave.

Question: Is this a. two bar pin bar on the weekly chart of AUD/USD, b. Is this a good one?

Yes it is a two week pinbar, but the location isn't great Dustbin, you really need them at highs and lows, it's all kind of sideways there and as you've pointed out there's two highs right on top of it.

I've arrowed a couple of other two week pinbars, whilst not A+ bars the locations are a lot better. Also look for some confluence, like the MACD divergence on the two week pinbar at the very bottom.

Attached Image (click to enlarge)
Click to Enlarge Name: dustbin.png Size: 39 KB
  • #139,422
  • Jul 29, 2016 3:33pm Jul 29, 2016 3:33pm
Locked my profit on USDJPY BEOB
Attached Image (click to enlarge)
Click to Enlarge Name: USDJPYDaily.png Size: 43 KB
  • #139,423
  • Aug 1, 2016 2:50am Aug 1, 2016 2:50am
Hi guys, this awesome thread conviced me to register to this forum. So many good analysis! I passed this weekend reading all this helpfull pages.
My 2 pips about oil:
i see some divergences on the daily chart and we are on a PPZ or am i wrong?
P.S.: sorry for my bad english
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 212 KB
Click to Enlarge Name: Screenshot3.png Size: 208 KB
  • #139,424
  • Aug 1, 2016 3:19am Aug 1, 2016 3:19am
BEOB question

Does the Close of the second candle has to be lower than the open of the 1st candle?

thx guys
Attached Image
  • #139,425
  • Aug 1, 2016 3:41am Aug 1, 2016 3:41am
Our Forex market preview for this week, enjoy;
Inserted Video
  • #139,426
  • Aug 1, 2016 5:20am Aug 1, 2016 5:20am
Quoting priceaction9
BEOB question Does the Close of the second candle has to be lower than the open of the 1st candle? thx guys {image}
Preferably yes, your picture is an ideal outside bar, the open and close are towards the top and bottom of the bar also.
  • #139,427
  • Aug 1, 2016 7:10am Aug 1, 2016 7:10am
Try this H1 pinbar, 50%fib can hold
Attached Image(s) (click to enlarge)
Click to Enlarge Name: EURUSDH1.png Size: 32 KB
Click to Enlarge Name: EURUSDH4.png Size: 47 KB
  • #139,428
  • Aug 1, 2016 8:45am Aug 1, 2016 8:45am
just a little note here. I see a few people starting to use this thread as self promotion for their sites. Although it's an abyss here in the commercial forum i'm going to ask that people stick to their own threads if you aren't here to help discuss with traders what we teach in J16.

Please do not use this thread for cross promotion

Thanks!
Mike
  • #139,429
  • Aug 1, 2016 8:48am Aug 1, 2016 8:48am
Quoting sirovai
Hi guys, this awesome thread conviced me to register to this forum. So many good analysis! I passed this weekend reading all this helpfull pages. My 2 pips about oil: i see some divergences on the daily chart and we are on a PPZ or am i wrong? P.S.: sorry for my bad english {image} {image}
Hey Sirovai

Welcome to the thread

I don't see any divergence on the daily right now as price is in a pretty strong bearish move. I think it's easiest to use Boxing to identify S/R on this chart right now. You are correct we are near a PPZ

We are nearing the midpoint of the previous box. Midpoints of boxes are PPZ areas too. The most important areas for me are the tops and bottoms of those boxes though

Best
Mike
Attached Image (click to enlarge)
Click to Enlarge Name: 8-1-2016 9-47-09 AM.jpg Size: 186 KB
  • #139,430
  • Aug 1, 2016 8:51am Aug 1, 2016 8:51am
Quoting alphac
{quote} Preferably yes, your picture is an ideal outside bar, the open and close are towards the top and bottom of the bar also.
thanks Alphac as always for helping out
  • #139,431
  • Aug 1, 2016 11:54am Aug 1, 2016 11:54am
EURUSD 60min buy setup
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 75 KB
  • #139,432
  • Aug 1, 2016 3:45pm Aug 1, 2016 3:45pm
Quoting alphac
{quote} The bar you've labeled BEOB isn't an outside bar dave.
Ok, is this called engulfing then?

I'm trying to describe the location as well I think - eg it covers the previous bar and clearly closes below the support / 1.1 level.
  • #139,433
  • Aug 1, 2016 4:33pm Aug 1, 2016 4:33pm
Quoting dave0
{quote} Ok, is this called engulfing then? I'm trying to describe the location as well I think - eg it covers the previous bar and clearly closes below the support / 1.1 level.
An oustide bar whether a BEOB or BUOB should totally engulf the previous candle, the high and the low. Some people call them engulfing candles, don't let that confuse you, for the sake of definition don't worry about the location etc either, the term outside bar just refers to the bar. I've arrowed some on your picture, also look at priceaction9's picture - post #139424.

Attached Image (click to enlarge)
Click to Enlarge Name: dave.png Size: 79 KB
  • #139,434
  • Aug 2, 2016 3:08am Aug 2, 2016 3:08am
Hi, I've been learning to trade for 19 months now and I've got a big obstacle I hope I can get some help with. My problem is I do something smart, premeditated and planned and it works and I make some pips. But then I can be overcome by something and start doing really dumb, stupid trades that I think I can win and of course can't, my losses escalate and I end up back where I started or even worse. It's a compulsiveness, like there's two of me, the smart one and the very, very dumb one. I need to sort out the dumb one. Any advice, help would be really great. Thank you.

bty, what a great thread this is, thank you to everyone who contributes here especially James and Mike it has been a great help to me.
  • #139,435
  • Aug 2, 2016 6:02am Aug 2, 2016 6:02am
Every trader, successful or not has been there Zaak, and it's an important point you raise. Knowing when not to or physically not taking a trade can be the making of a trader. It's simple to say I know but take just the best trades, even if it's one or two a month, imagine you have a 100K account, you're risking 3% a trade and it's your only income, before taking any trade imagine that and make it as real in your mind as you can, it will give you a better perspective before taking the trade.

Take a picture of every trade, start a journal, post every trade you take, show them to the world, this may help you take more responsibility for your decisions. Ask questions on here, too many seem to hold back and are scared of being 'wrong', this is how you can correct your mistakes, Just my thoughts, good luck.
  • #139,436
  • Aug 2, 2016 6:28am Aug 2, 2016 6:28am
AUDUSD 4hr chart, 8hr bullish outside bar. Have been watching this area because of the previous 'box' in white. It's great the outside bar rejected the upper and lower levels of the box, I didn't place an order because of the S & R area in blue, and because there's not much 'room' above the bar and to the left where the down move is.

Attached Image (click to enlarge)
Click to Enlarge Name: audusd8.png Size: 27 KB
  • #139,437
  • Aug 2, 2016 8:16am Aug 2, 2016 8:16am
Quoting Zaak
Hi, I've been learning to trade for 19 months now and I've got a big obstacle I hope I can get some help with. My problem is I do something smart, premeditated and planned and it works and I make some pips. But then I can be overcome by something and start doing really dumb, stupid trades that I think I can win and of course can't, my losses escalate and I end up back where I started or even worse. It's a compulsiveness, like there's two of me, the smart one and the very, very dumb one. I need to sort out the dumb one. Any advice, help would be...
Hey Zaak

It's completely normal part of the learning process. Humans love to self-sabatoge and trading brings that out.

I wrote an article on this that may help you
https://www.james16group.us/wp/pract...-forex-traders

Lemme know if it helps
Mike
  • #139,438
  • Aug 2, 2016 9:33am Aug 2, 2016 9:33am
Quoting dustbin
Hey thoughts on AUD/CAD Selll Pinbar??? cheers (bounced off previous highs, a congestion zone) my USD/JPY BeOB worked out well, indeed. {image}
Not on the Pinbar, I am selling the 88.6% retracement
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 84 KB
  • #139,439
  • Aug 2, 2016 10:22am Aug 2, 2016 10:22am
Thanks alphac and Mike (mbqb11).

Alphac, there's something there in what you say, " take more responsibility for your decisions", that resonates with me.

Mike, your article, "We (I) can't see the forest for the trees. In other words we (I) constantly lose sight of the bigger picture and our reactions end up being short term satisfactions". Mind talk I call it and I've done some work on it in my life already but trading's hard core and different work is needed, obviously.

Your solution, "2. Challenge The Ego", with physical, practical things to do. I've been trying to control my mind with my mind. I'm going to take your advice and do physical things. I'm going to make new rules that do just this, limit my trades, get away from the computer for set times so it isn't in control for starters and I'll come up with a few more.

Also, alphac, I'm going to re-write my trading plan and make a ceremony as to respect and honour it. I'll be happy to develop it as things unfold.

I found "Post 11,638" helpful (thanks SeekingLight) for anyone else who finds themselves in this position.

alphac and Mike, thank you.
  • #139,440
  • Aug 2, 2016 2:29pm Aug 2, 2016 2:29pm
Quoting dustbin
firstly thank you @florinellz for you comment. I now realize that it was not a 2 bar pin because of what you pointed out. The lows are not the same. I thought bar 2 should have opened low and the close of bar 2 and the open of bar 3 should be aligned. I'll have a further look at Jims earlier posts. I get it, i think... (attention to detail, hmmm delete that line from my CV) USD/JPY possible short BeUB signal forming... thoughts??? {image}
Anyway, this Bearish Outside Bar on USD/JPY did work out well in the end. However hold on to it was made a tad difficult by the FOMC spike up. today it hits my proposed target point 101 could go to 100... lets see IMHO
Attached Image
"...Look for 5:1 RR. I can be wrong 8/10 time yet I'm not gonna lose" PTJ
53 traders viewing now